A luxurious 28-room residence on the edge of Memphré, first listed at $18.5 million, finds a buyer for $12.5 million

Every day, hundreds of properties change hands in Quebec, most without us knowing the fine details. That was before we were interested in it… Here is the last transaction that caught our attention.

A huge property, built on the shores of Lake Memphremagog, in the Eastern Townships, has just been sold for $12.5 million… not without first seeing its price reduced by 30%, or 6 million, compared to the asking price.

Located at 87, chemin Girl’s Camp, at the foot of the Owl’s Head ski center in the territory of the small municipality of Potton, this property has no less than 28 rooms, including four bedrooms and three bathrooms, an in-ground swimming pool, a garage boat with aluminum interior, as well as a guest loft separate from the main residence.

Originally built in 1987, this residence has subsequently undergone several renovations and expansions. It sits today on a vast plot of land with an area of ​​11,219 m² (120 760pi²) which has the rare distinction of offering no less than 187 meters (615 ft) of coastline on the lake, shared between Quebec and Vermont, in the United States.

The selling owner, who runs a plastic surgery clinic, purchased this property in March 2020 from a holding company owned by a Montreal couple. The amount paid at the time: $4.18M, ​​to which was added $200,000 for the purchase of movable property.

A little more than three years later, in September 2023, the same property was put back on the market for the sum of $18.5 million, four times the price paid in March 2020. A year later, very recently, a couple of entrepreneurs agreed to pay $12.5 million to purchase it.

On the last three-year assessment roll, this residence was given a value of $5,698,000. This was an increase of 39.3% from its previous valuation of $3,458,300.

According to the deed of sale, signed before a notary on September 23, a transfer tax of $284,733, payable to the City of Potton by the buyers, was added to the purchase price.

– With the collaboration of Philippe Langlois, from the Investigation Bureau.

THE PRICES OF TEN OTHER RECENTLY COMPLETED TRANSACTIONS

485, rue Verchères, Magog 4 800 000 $

12320, avenue du Beau-Bois, Montréal 3 200 000 $

32, chemin du Bord-du-Lac-Lakeshore # 1001, Pointe-Claire 3 262 601 $

24, avenue des Buses, Saint-Sauveur 2 620 000 $

114 Howick Road, Canton de Stanstead 2 400 000 $

176, rue Tremblay, Sherbrooke 2 375 000 $

7600, rue Tessier, Brossard 2 250 000 $

12 Iron Hill Road, Brome Lake 2 145 000 $

2895, rue de la Promenade, Québec 2 095 000 $

304, avenue Querbes, Montréal 2 025 000 $

Extract from the weekly real estate column of Journal. Got wind of an interest transaction? Do not hesitate to communicate it to [email protected].